Inotek starts off 2017 with a PhIII failure for lead drug, shares crater
The New Year in biotech got started this morning in just the same style it ended 2016; with a small biotech reporting a late-stage failure for a lead drug and watching its share price crater.
Today it was Inotek’s $ITEK turn to find the best spin possible after trabodenoson flunked its first Phase III for glaucoma or ocular hypertension. The drug failed the primary endpoint, reducing intraocular pressure at 12 time points over 84 days of treatment. And its stock immediately plunged more than 60%.
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